Nok Airâ€™s 3Q profit down on cost hikes, intense competition

Thai budget carrier Nok Air reported a third-quarter net loss of TBH353.3 million ($10.8 million), reversed from a net profit of THB244.6 million reported in the year-ago period.
The airline attributed the poor performance to slow recovery in Thailand’s economic activity, intense competition in the domestic resulting in a capacity glut, and discount pricing to stimulate demand in the low season.
Revenue for the quarter was virtually static year-on-year at THB2.8 billion, but costs were ...

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